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How to Change Your Mindset About Money in 5 Steps: Step 1 - Let Go of Your Negative Money Stories

Updated: May 11

Woman Thinking

Introduction: The first step to changing your Mindset about Money is letting go of negative money stories requires self-awareness, patience, and persistence. Before you can begin to let them go, you have to recognize what they are. Identifying your negative money stories takes some time for introspection. This is the hardest part of the transformative journey.

Recognizing Negative Money Stories: The beliefs or stories you hold about money can be inherited from family, societal influences, or past experiences. They can come from family, friends, neighbors, teachers, coaches, and anyone who has touched your life. Your stories are your internal beliefs and are the product of your life experiences. Negative money stories might sound like, “I am terrible with money,” “Money is difficult,” or “I will never be rich.” Getting to the root of these is part of the process. However, recognizing them is the most important part.

Challenging Negative Money Stories: Once you have recognized them, it’s time to challenge them. Ask yourself questions like, "Is this belief based on fact or perception?", “Was this my perception or someone else’s?”, or "How has this belief impacted my financial decisions?" By questioning these negative stories, you can start to see them for what they are: internally formed beliefs, not truths. From there you can acknowledge them and face them head-on.

Reframing Your Perspective: By acknowledging the negative belief about money, you can reframe the perspective. Taking the belief that “I am not good with money” and changing it to “I am good with money; I just had some bad experiences with money in the past” changes your focus to a positive future with money. Journaling can help you gain clarity and keep focused on these reframed beliefs. If you’re not one for journaling, just being mindful and intentional in your thoughts can suffice.

Taking Action Towards Financial Empowerment: Breaking the cycle of negative money stories starts by taking small steps towards financial empowerment. Surrounding yourself with people who have a positive mindset towards money can help. Engage with communities, forums, or support groups where you can share your challenges and learn from others' experiences. Consider working with a therapist, financial coach, or mentor who can provide guidance and support on your journey.

Practicing Gratitude and Forgiveness: Practice gratitude and forgive yourself. Work on being grateful for the abundance that already exists in your life, no matter how small. Focus on what you have rather than mistakes you have made or what you lack. Shifting your perspective helps you attract more positive experiences with money.

Conclusion: Letting go of negative money stories is a gradual process. Take small steps forward and be patient with yourself, celebrating your progress along the way.


This post is general education - not mental health, financial, tax, or legal advice.

Linda Grizely is a Motivational Speaker, Financial Planner, and Mindset Mentor & Coach. Linda is the founder of Mindset and Money, a business with a mission to guide and empower women in transforming their money mindset and unlocking their potential. She’s cultivating a community where people embrace profound shifts in perspective for a transformed and empowered future. Want to learn more about how to change your mindset about money? Start with a short quiz.


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